Tesla's earnings Live: Shares slip after warning of a speedbump in '24
The company's fourth-quarter earnings and vague guidance disappointed investors ahead of the earnings call.
Tesla shares were falling after hours Wednesday after the company declined for now to offer financial guidance for 2024.
Tesla (TSLA) - Get Free Report said, instead, that delivery growth this yiear would be "noticeably lower" as the company works on the introduction of its "the next-generation vehicle," to be built at its plant in Texas.
The vehicle is supposed to be something like a Honda Accord, with Tesla pricing it at around $25,000.
Whether that can achieved is not clear. The Tesla Cybertruck was supposed to sell for about $35,000 but is priced at a much higher level. The company is hoping to see Cybertruck production and deliveries ramp up this year.
More detail will come during the company's earnings call at 5:30 p.m. ET. CEO Elon Musk is expected to participate.
This is a developing story, so check back for updates during the conference call!
Related: Tesla's highly-anticipated $25,000 car set to start production next year
The disclosures came after the company reported fourth-quarter revenue and earnings that missed Wall Street estimates.
The shares fell below $200 in after-hours trading for the first time since the end of October. In regular trading, the shares closed at $207.83,down -0.6%. The close was off 0.6% on the day and are off 16.4% this year. Image source: Getty Images.
Tesla reported fourth-quarter revenue of $25.2 billion, missing the street estimate of $26.6 billion. Earnings were 71 cents a share. The Street estimate was 74 cents.
Tesla shares have been pressured in recognition of rising global competition and signs sales of electric vehicles are stagnating.
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